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Mumbai: ED conducts raid at Yes Bank's founder Rana Kapoor's residence
Enforcement Directorate (ED) on Friday filed a money laundering case and carried out searches at the residence of the Yes Bank's founder Rana Kapoor.
The ED's action comes a day after the RBI superseded the Yes Bank board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month. The RBI said that the bank's board was superseded "owing to serious deterioration in the financial position of the bank".
The ED's action comes a day after the RBI superseded the Yes Bank board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month. The RBI said that the bank's board was superseded "owing to serious deterioration in the financial position of the bank".
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